Los Angeles Celebrates Grand Opening of Sage Park Apartments

LOS ANGELES, CA, April 23, 2015—BRIDGE Housing and its partners marked the grand opening of Sage Park Apartments at a ribbon-cutting event today at 1304 West 177th Street.

Sage Park features 90 affordable rental apartments for families on a 3.5-acre site on the north side of the Gardena High School campus. The property was developed through a partnership between nonprofit BRIDGE Housing, the Los Angeles Unified School District and the Los Angeles Housing and Community Investment Department.

Rents are set to be affordable to residents with annual incomes ranging from $16,541 to $49,800 for a four-person household (30-60% of Area Median Income). Monthly rents will range from $425 to $1,222 depending on factors such as income, household and apartment size.

Amenities include a fitness room, community room, laundry facilities, a community garden and landscaped courtyards. Sage Park Apartments is designed to achieve LEED Silver certification, and the landscaping includes plantings and sustainable materials that respect the existing environment.

On a one-acre parcel adjacent to Sage Park, the partnership developed additional community amenities, including a Joint Use Facility with two multipurpose rooms, outdoor patio and community garden, along with an obstacle training course that will be used by the Los Angeles Police Department for its Juvenile Impact Training program.

“The Los Angeles area is one of the most expensive rental markets in the country, where people with moderate- and lower-wage jobs cannot afford a place to live,” said Cynthia A. Parker, President and CEO of BRIDGE Housing. “At Sage Park, we are thrilled to be part of transforming an underutilized site into new, affordable homes and community spaces.”

“We are thrilled to celebrate this innovative partnership to bring affordable housing to Gardena,” LAUSD Chief Facilities Executive Mark Hovatter said. “With the support of our partner, BRIDGE Housing Corporation, the Sage Park Apartments complex will be a highly successful master planning project that benefits our entire community. In addition, the outstanding services provided are extremely convenient for our LAUSD employees and their families who will live here.”

“In a community as vast as Los Angeles it is important to continue to increase access to affordable housing for low-income individuals and families,” said Raul A. Anaya, Los Angeles Market President, Bank of America. “Bank of America is proud to partner with BRIDGE Housing and continue our efforts to meet the housing needs of Angelinos while helping to improve Los Angeles’ overall economic vitality.”

Financing for the $28-million property is being provided by the Los Angeles Unified School District, Los Angeles Housing and Community Investment Department, California Tax Credit Allocation Committee, Bank of America Merrill Lynch, California Community Reinvestment Corp., and New Generation Fund. Sage Park was designed by Steinberg Architects, and the general contractor was Portrait Construction, Inc.

Grand opening speakers included Mark Hovatter, Chief Facilities Executive, Los Angeles Unified School District; Nancy Ceballos, Deputy Chief of Staff for Board Member Dr. Richard Vladovic, District 7, Los Angeles Unified School District Board of Education; Councilman Joe Buscaino, District 15, Los Angeles City Council; Ari Beliak, Vice President, Bank of America; and Cynthia Parker, President and CEO, BRIDGE Housing.

For more information about BRIDGE Housing, visit bridgehousing.com.

# # #

NOTE TO EDITORS: Photographs available; please contact lhikida@bridgehousing.com to request.

Event photo album: http://on.fb.me/1PxibGb






BRIDGE Housing